Sumitomo to shut Scottish Edgen Murray plant
Talks are under way over redundancies (pic: Google)
Steel company Edgen Murray is winding down its Scotland-based operation, putting up to 90 jobs at risk.
Staff at the division in Newbridge, Edinburgh, are being consulted over redundancies by the Japanese owner Sumitomo Corporation.
The Scottish arm of the business can trace its roots to former Rangers FC owner Sir David Murray’s Murray International Metals.
In 2005 Sir David sold MIM to US private equity group Jefferies Capital Partners which combined the business with Edgen, a steel stockholding and trading company based in Louisiana.
Tokyo-listed Sumitomo acquired the Edgen Group in 2013. A spokesman for the group issued a statement saying: “Sumitomo Corporation decided to wind down Edgen Murray eastern hemisphere business.
“As part of the wind down process, EMEH will continue executing its existing backlog contracts but will not take additional new business.”
The Newbridge plant is Edgen Murray’s European base and houses the company’s largest service centre on the continent. Its clients include the North Sea oil and gas industry.